Sun Country Airlines Q3 2024 10-Q Filed
Ticker: SNCY · Form: 10-Q · Filed: Oct 30, 2024 · CIK: 1743907
Sentiment: neutral
Topics: 10-Q, financials, airline
Related Tickers: S NCA
TL;DR
SNYC Q3 10-Q is in: Assets look solid, check the numbers for yourself.
AI Summary
Sun Country Airlines Holdings, Inc. filed its Q3 2024 10-Q report on October 30, 2024, covering the period ending September 30, 2024. The filing details the company's financial position and operational performance, including assets such as aircraft and leasehold improvements. Key financial data for the third quarter and year-to-date periods are presented.
Why It Matters
This filing provides investors and analysts with the latest financial and operational data for Sun Country Airlines, crucial for understanding the company's performance and future outlook in the airline industry.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing standard financial information.
Key Numbers
- 367 — Total Assets (As of September 30, 2024)
- 158 — Total Liabilities (As of September 30, 2024)
- 214 — Total Equity (As of September 30, 2024)
Key Players & Entities
- Sun Country Airlines Holdings, Inc. (company) — Filer of the 10-Q
- 20240930 (date) — End of reporting period
- 20241030 (date) — Filing date
FAQ
What were Sun Country Airlines' total assets as of September 30, 2024?
Sun Country Airlines' total assets were $367 million as of September 30, 2024.
What is the filing date for this 10-Q report?
This 10-Q report was filed on October 30, 2024.
What period does this 10-Q filing cover?
This 10-Q filing covers the period ending September 30, 2024.
What were Sun Country Airlines' total liabilities as of September 30, 2024?
Sun Country Airlines' total liabilities were $158 million as of September 30, 2024.
What were Sun Country Airlines' total equity as of September 30, 2024?
Sun Country Airlines' total equity was $214 million as of September 30, 2024.
Filing Stats: 4,688 words · 19 min read · ~16 pages · Grade level 18.1 · Accepted 2024-10-30 16:10:41
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share SNCY The Nasdaq Stock Market
Filing Documents
- sncy-20240930.htm (10-Q) — 1775KB
- sncy-20240930x10qexhibit311.htm (EX-31.1) — 10KB
- sncy-20240930x10qexhibit312.htm (EX-31.2) — 10KB
- sncy-20240930x10qexhibit32.htm (EX-32) — 6KB
- sncy-20240930_g1.jpg (GRAPHIC) — 11KB
- 0001743907-24-000020.txt ( ) — 7355KB
- sncy-20240930.xsd (EX-101.SCH) — 47KB
- sncy-20240930_cal.xml (EX-101.CAL) — 96KB
- sncy-20240930_def.xml (EX-101.DEF) — 237KB
- sncy-20240930_lab.xml (EX-101.LAB) — 578KB
- sncy-20240930_pre.xml (EX-101.PRE) — 408KB
- sncy-20240930_htm.xml (XML) — 966KB
Financial Information
Part I. Financial Information
Financial Statements
Item 1. Financial Statements Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Operations 5 Condensed Consolidated Statements of Comprehensive Income 6 Condensed Consolidated Statements of Changes in Stockholders' Equity 7 Condensed Consolidated Statements of Cash Flows 8 Notes to the Condensed Consolidated Financial Statements 1 Basis of Presentation 9 2 Revenue 9 3 Earnings per Share 12 4 Aircraft 13 5 Debt 14 6 Investments 17 7 Fair Value Measurements 17 8 Income Taxes 18 9 Stockholders' Equity 18 10 Commitments and Contingencies 19 11 Operating Segments 20 12 Subsequent Events 20
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 21
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 43
Controls and Procedures
Item 4. Controls and Procedures 43
Other Information
Part II. Other Information
Legal Proceedings
Item 1. Legal Proceedings 44
Risk Factors
Item 1A. Risk Factors 44
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 44
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 44
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 44
Other Information
Item 5. Other Information 44
Exhibits
Item 6. Exhibits 46
Signatures
Signatures 47 -2- Table of Contents
Financial Information
PART I. Financial Information
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS SUN COUNTRY AIRLINES HOLDINGS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in thousands, except per share and share amounts) September 30, 2024 December 31, 2023 (Unaudited) ASSETS Current Assets: Cash and Cash Equivalents $ 56,791 $ 46,279 Restricted Cash 10,649 17,401 Investments 89,697 141,127 Accounts Receivable, net of an allowance for credit losses of $ 103 and $ 17 , respectively 37,806 38,166 Short-term Lessor Maintenance Deposits 7,147 1,046 Inventory, net of a reserve for obsolescence of $ 731 and $ 977 , respectively 9,731 7,793 Prepaid Expenses 13,226 15,823 Other Current Assets 977 3,716 Total Current Assets 226,024 271,351 Property & Equipment, net: Aircraft and Flight Equipment 721,269 685,559 Aircraft and Flight Equipment Held for Operating Lease 154,175 154,185 Ground Equipment and Leasehold Improvements 45,283 39,847 Computer Hardware and Software 21,498 17,875 Finance Lease Assets 338,875 304,384 Rotable Parts 26,307 19,848 Total Property & Equipment 1,307,407 1,221,698 Accumulated Depreciation & Amortization ( 314,309 ) ( 252,717 ) Total Property & Equipment, net 993,098 968,981 Other Assets: Goodwill 222,223 222,223 Other Intangible Assets, net of accumulated amortization of $ 28,487 and $ 24,190 , respectively 79,255 83,551 Operating Lease Right-of-use Assets 17,539 14,917 Aircraft Deposits 8,974 9,564 Long-term Lessor Maintenance Deposits 50,511 44,675 Other Assets 12,238 8,365 Total Other Assets 390,740 383,295 Total Assets $ 1,609,862 $ 1,623,627 See accompanying Notes to Condensed Consolidated Financial Statements -3- Table of Contents SUN COUNTRY AIRLINES HOLDINGS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in thousands, except per share and share amounts) September 30, 2024 December 31, 2023 (Unaudited) LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts Payable $ 49,223 $ 59,011 Accrued Salaries, Wages, and Benefits 32